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problems that get thrust upon them as a consequence of diminished tax bases and the consequence of housing, the significant portion of the public and their states that are in most need. we're committed to having a third phase of the so-called big deal on the budget. we're of the view that just as it took during the clinton administration, it didn't happen in one fell swoop to get our economy in great shape and move toward a balanced bump started off with three phases. started with president bush's actions, the first president bush, in terms of taxation, before president clinton took office. then the actions the president took in '94 and then in '97. well, we think there's a third phase here that can set our country on a path that will allow us to get our debt, the gdp, our deficit to gdp, down around 3%, which is the basis of which all economists left, right, center, agree, are the areas which we really can begin to grow as a country. and also my grandfather used to say, with the grace of god and good will of the neighbors, cooler heads will prevail between now and the time we deal with th
it comes. a carbon tax. the president says we must recognize the climate danger, forest fires, powerful storms, they're signs that climate change is real, it hurts and it must do something about it. here it comes, a carbon tax. if the president doesn't get a tax through congress, he will issue executive orders, other way you'll pay more in energy taxes or energy prices. in his inaugural address he spent more time on climate change than any other single issue. environmentalists ecstatic, the foreign media client. and the world's great minds will call for a 14 trillion dollar global greening. this is tuesday, january the 22nd, the day after the most liberal, all-government, all the time inauguration speech in memory. "varney & company" is about to begin. you turn for legal matters? maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. at legalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. [
said this is a great opportunity for them to pass a budget. talk about tax reform or various kinds of things. the debt ceiling, the sequestration, etc., that really have not been addressed appropriately for the nation. so i think that is a good way to look at it. it is an opportunity to follow the law and do our jobs. >> thank you very much. i agree with you. i think both sides of this capital will have an opportunity to accept this bill , vote for or against it, to debate it and the merits within. i think we have seen where several prominent democrats have really accepted the challenge to get that done. mr. levin, did you want -- >> just briefly. my guess is -- >> the gentleman is recognized. >> we'll debate this tomorrow. just a few things. i'm in favor of regular order. that doesn't mean there's any guarantee of the result and to use the debt ceiling as a lever i think is a very serious mistake. after the credit of this country was downgraded, a senior director of standard & poor's -- this was right after it -- said the following about american political institutions that they w
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
it was put in place. we just raise tax rates on the well-off so we are doing this in pieces off. declaring victory more angry at each other than they were before and making it harder to do the remaining policies is so we know what we have left we know what we have to the health care cost which the truth is we don't know how to fix the system in its entirety. we have to keep looking at ways to control health care cost and the government programs and medicare and we are going to have to go back and do this every couple of years but we have to study what works and put more of the policies that are working in place. we have to deal with our other entitlement. it's a contentious issue in this country. it's always a political tough battle. but the longer we wait to make the changes for the people the difference of the programs there is no question about that and we have to go forward with tax reform which is great when you talk about it broadly we all know the tax code is a disaster and none of us like the tax code. when you talk about the ability to broaden the base, lower the rate and raise re
. >> not the last question. >> i'm sorry, francine. [inaudible] >> everything you run out of tax reform process has been out with a has to measure to make them maybe not impossible, but much less likely to tax reform goes forward this year. is that basically what you believe? if you could say a word about why tax reform should go forward. what do you see as the upside of that? >> i'm not saying that. what i'm saying is they think we took seems that do not package they have some ramifications tax reform. but i am not saying that we shouldn't sit down and talk about how we look at our tax structure and how we reform it. it's a fact that by what we thought it, but it isn't anything close to the whole package. i think what it does is to force people to be more concrete about what they mean when they took about tax reform. let me just give you an example. some of the provisions that we have been training and retraining, some of them are in appropriation and some of them are in the tax structure. i think we can take a hard look at all of our training programs. some of them aren't about to taxation. i thi
on your debt. well we have 2 1/2 trillion dollars coming into the treasury every year in tax revenue. we can use that tax revenue to pay the interest on our debt. therefore, we will not default. all this talk about being a deadbeat nation, that belies the fact that we have never, and will never default on our obligations. the obligation being to pay the interest on the debt. we're not a deadbeat nation and we're not going to default, period. yes. period. martha: comes down to the big question whether or not you will cut spending in order to not default on your debt. and that brings us to a larger question or one of the larger questions, which is whether or not we will be downgraded if we don't become more responsible with our spending? >> interesting you should raise that issue, martha, because 45 minutes ago, fitch, the ratings agency said, if we have another delay in raising this debt ceilingsing, if we have this political standoff again just like we had in 2011, fitch says we may be downgraded. his name is david reilly. he is managing director at fitch and he said if it is just like 2
and said it much better than i will, in fact, maybe if you had it on tape, we'd show it. but tax policy and trade policy. obviously, as the recession hits the world, why, trade policy gets more difficult. and we have troubles getting products into two of our most fast-growing markets, in argentina and brazil, which we could use some government help on keeping those markets open. and, of course, the big one is tax policy. we have the highest corporate tax rate in the world. so that mark barker who is now the ceo of the company and for a young whippersnapper of 55, he's doing a great job, but that he sits every year when he sets the budget, and he has to decide where the last dollar of investment goes. and where it generates the last dollar of profit. so he could get a dollar of profit in the united states for which 60 cents goes out to the shareholder, to the ultimate shareholder. or he can get another dollar, he can get that dollar profit in timbuktu of which 75 cents comes to the average shareholder. so any global company can maneuver around it, procter & gamble does that, i'm sure, be
their fair share of taxes. he's just another elitist hypocrite when it comes to a fair share of security. protection for their children and gun-free zones for our kids. host: that the latest ad by the nra, put out yesterday, getting a lot of feedback about the ad invoking the president's children. the "washington times" has this headline this morning about president obama's event this morning. that is our question for all of you. if president obama acts on his own with executive action, do you support that idea? we're getting your take on that this morning. we will go to sandra in sulphur springs, texas, a republican. caller: how are you? i just have a question to ask the rest of the people listening. what about the fort hood shootings? has anybody thought about how many guns were there? the man walked in, he was a psychologist, he walked in and killed our soldiers at fort hood. . what is the gun ban going to do on that? what does obama think about that? host: what do you think about the president taking some actions on his own? caller: i don't think anybody ought to take our guns away.
, calling for new revenues and 30% believe tax hikes are needed now and support for the president's position there ended. stuart: excellent, well, not excellent, but thanks for the informati information. [laughter] >> thanks for the information, scott rasmussen, good stuff. time for the gold report, where are we this morning? the dow is down 30. we see gold up 9 bucks, 1679 is where we are for gold. lance armstrong comes clean and he says he wants to compete again and he might rat out others to do it? whoa. sandra smith, brian, they're here, will they forgive, forget, and give him a second chance? i would not, but would they? that's next. ♪ at a dry cleaner, we replaced people with a machine. what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. ♪ if it makes you happy, it can't be that bad ♪ >> and that's-- well, lance armstrong admit today what many people speculated for many years, he lied and cheated. the seven time tour de france winner, stripped
the wealthy pay their fair of taxes but there he is just another elitist hypocrite when it comes to a fair share of security. protection for their kids and gun-free zones for hours. -- for ours. >> at the white house, and jay carney said that ad was repugnant and cowardly. the nra says the ad is not in anyone's child in particular and anyone the claims otherwise is intentionally trying to change the topic were missing the point. incidentally, once the president stopped -- started to talk about curtailing gun violence, gun sales went through the roof. >> it is true public opinion has changed and there is more desire for gun-control than ever, but i do not think congress will budge on the bic stuff. it is not going to get done. it is posturing. with the nra did was odious. i think the president is on the high ground but he will not get done real gun-control. >> these 23 executive actions were fairly trivial, there was nothing major about it. i think it will not have any effect. it was an appearance of motion. the three big items on the table for the congress, assault weapons ban, the limit o
, pay taxes, do all the other things. we transferred one of our cars to one of our sons here recently. we had to go through the motor vehicle department transfer, whatever. why somebody should be able to go into a gun show and buy any kind of a thing without any kind of the background check you might have otherwise, at least -- i -- at least not an enforceable one, i can't understand that. i really can't. i think we should have stricter background checks. i think they should be real ones. if you have the restraining orders on you, other things, we ought to be able to do that. i realize every state's different. vermont has virtually no gun laws. you can carry loaded concealed weapon in vermont this afternoon if you were there with no permit. we also have one of the lowest crime rates in the country but not because of that. we are as a society we are very law-abiding, but would that stop somebody who is mentally unhinged from going out and using a gun, knife, or anything else to kill people? no. the president's right when he says there are a whole lot of factors involved. i'm anxious to
doesn't put tax pay thornse hook for 100% of the cost of projects that are unrelated to hurricane sandy. the amendment waives the standard local cost share for what -- for, quote, ongoing construction projects. this applies to peach renourishment projects which are typically cost shared at a 65% federal, 35% local shear. while the waiving of this local cost share for this type of pradget is uns predent, i understand that for our friends in new jersey, new york, and connecticut, hurricane sandy was also unprecedented. our amendment does not change the language with respect to repairing the beaches damaged by hurricane sandy. but unfortunately, the language could be interpreted to also waive local cost share for future periodic beach replenishment unrelated to any damage caused by hurricane sandy. these typically can take up to over a 50-year period and cans to the tens of millions of dollars. i'm confident that's not what was intended by the amendment as it was offered. but the amendment is necessary to make sure that that's not how it's interpreted at some point in the future. madam cha
. mr. wilson:section 8 the congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the united states, but all duties, imposts, and excises shall be uniform throughout the united states, mr. goodlatte: i now yield to the gentleman from texas, mr. green. mr. green: to borrow money on the credit of the united states, to regulate commerce with foreign nations, and among the several states, and with the indian tribes, to establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the united states, mr. goodlatte: i now yield to the gentleman from florida, mr. nugent. mr. nugent:to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, to provide for the punishment of counterfeiting the securities and current coin of the united states, to establish post offices and post roads, to promote the progress of science and useful arts, by securing for limited times to authors and inventors the excl
share of taxes, but he's just another elitist hypocrite when it comes to a fair share of security. lou: the white house responded by calling the nra cowardly. press secretary offering one of those obama rules as they like to call the say most americans agree that a president's children should not be used as pawns in a political fight. but to go so far as to make the safety of the president's children the subject of an attack and is repugnant and cowardly. well, obama rule number one. bad form to point out the president's children are protected by armed guards and appropriately so, but okay for the presidents to use other people's schoolchildren as props in his news conference in which he advocates a rollback of second amendment rights. our first guest says the president is using the tragedy to bolster an anti-gun agenda and that that is an affront to the second amendment. joining us tonight, the attorney general of the great state of texas. good to have you with this. let me first give your reaction, if i may, to the president's executive orders and as they are called, memoranda to dea
more without asking the rich to pay more so we have to raise taxes. so we raise taxes, we got pretty much exactly what obama asked for with a big tax hike and obama's response is, now we need a balanced approach where we raise more taxes. >> megyn: jonah goldberg, thank you. >> thank you. >> megyn: up next, a popular internet activist was faced with a possible 35 years in jail for hacking before took his own life. music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ it's so important to make meone happy.♪ ♪make just one someone happy ♪and you will be happy too. >> fox news alert. we told you at the top of the hour how ejust got word from the white house briefing that the the president will deliver his plan for the gun crackdown, however you want to phrase it, the executive orders that he is prepared to issue on guns in addition to the legislative push that we expect him to make around this time tomorrow. well, moments ago we just learned that the president will be joined by children from around the country who wrote letters to
revenue through tax reform by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they don't think it's fair, for example, to ask a senior to pay more for his or her health care, or a scientist to shut down lifesaving research so that a multimillionaire investor can pay less in tax rates than a secretary. they don't think it's smart to protect endless corporate loopholes and tax breaks for the wealthiest americans rather than rebuild our roads and our schools, invest in our workers' skills, or help manufacturers bring jobs back to america. so they want us to get our books in order in a balanced way, where everybody pulls their weight, everyone does their part. that's what i w
and it calls him this. >> mr. obama demands the wealthy pay their fair share of taxes, but he is just another elitist hypocrite when it comes to a fair share of security. >> president obama has secret service protection for his daughters, sasha and malia. asking if the president's kids are more important than yours. oh, my goodness, secret service protection, pretty customary for the president and his family. more bill next. these talking points, that the right have, about the "heavy hand of government" ... i want to have that conversation. let's talk about it. really? you're going to lay people off because now the government is going to help you fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 10 t
the city counsel stopped the increase of taxes. >> today, mavericks will begin get southing -- setting up the festival which is expected to be packed with visitors. >> way too many customers and probably not enough food. >> a high surf advisory has beenish issued. authorities are morning to be careful with the waves like this one. stay tuned coverage on the mavericks surfing competition. you can watch online at ktvu.com or use our mobile ap. >>> if you are heading out to the beach today, you want to avoid the water because the waves are coming in. >>> sure, the sneaker waves are exactly what they are called. they can wash you out, especially the little ones oen the beaches. be prepared if you are going out there. it's going to be a nice beach day, just be prepared. look at the golden sun, plenty in store. we will continue with the cool conditions at least in the next hour or so. a rapid warm up. here's a look at what we are expecting, anywhere from 8 to 10 feet today. out at mavericks for the afternoon tomorrow, the waves hitting 30 feet and above. it's going to be a great day to observe
, the president signed into law. >> there will be no more tax-funded bailouts. period. >> years of spending added up and the debt ceiling talks of 2011 led to a budget standoff between democrats and republicans who had taken back control of the house in the mid-terms. >> is there a risk that the united states could lose its triple-a credit rating, yes or no? >> no risk of that. >> no risk. >> the debt ceiling was raised in august, the political fight and the spotlight on the count row's deficit and debt problems led s&p to downgrade the u.s. credit rating for the first time in history. >> geithner steered the major economic moves in the first term, now he's stepping down at treasury. the pick to replace him is jack lew, who has established a close relationship with the president. he is know chummy with the republicans on the hill after the debt ceiling negotiation. for that reason and other, his looming confirmation hearing could be bumpy. but if confirmed, lew will likely be dealing with the top issue in this second term, how to get the economy moving and addressing the count re's long-term fisc
at their check. i guess it was last week, when they saw the big cut in the social security payroll tax. it was a jump. you have less money now. so many things are affected unfortunately. coming into february, here we are again going to be with spending cuts going to kick in officially. all of this will affect unfortunately the markets. it will be a little rough. the economy is fragile. don't get a deal, jenna. you're looking at recession. fitch knows that. investors know that. we're watching it here at fox business. a little rough. jenna: all right. those are the stakes, recession or not. we'll watch this very closely over next couple weeks. cheryl, thank you. >> you bet. jon: after weeks of delay, secretary of state hillary clinton will testify on capitol hill about the benghazi attack on january 23rd. the secretary will face some tough questions from the house foreign affairs committee about the assault in september that left four americans dead including u.s. ambassador chris stevens. miss clinton was set you would to testify last month but she suffered a concussion falling during i
, and raised taxes more than once. and reagan was in favor of a ban on assault weapons just like president obama. >> right, and that comment was a way of saying that these are very centrist reforms, really common sense things that most americans agree with. he emphasized that in a few ways and a few times during that time. and i think the framing you're talking about, too, is really important. it is not just guns they're looking at. they're looking at mental health and research, links between violent media. you know, they are looking at more armed school resource officers at schools and providing funding for that. but i think constantly framing it, these are things that just make sense that the majority of americans support. and how can the republicans be so intransigent, not be even willing to discuss or consider any of these measures. >> richard, a month ago we heard the pundits say hand it off to joe biden and you will be involved in a senate committee process and lose all the momentum. well, this president/joe biden team, in the meantime, solved the fiscal cliff situation. joe biden re
of march. there is no question that these big fiscal issues, taxes and spending will define the first quarter of the president's second term. >> george, talk about this term, the second term curse. we -- reagan had iran-contra, nixon had watergate. clinton had monica lewinsky. why is it that they tend to go sour. >> lyndon jonls had to resign before he ran because of vietnam. ever since roosevelt and the amendment that limited his terms, presidents tend to run out of steam and maybe even get tripped up by scandal in these second terms. i think it's kind of a natural reaction to the fact that power is moving on beyond these presidents because, in fact, they are lame ducks. the obama white house has studied this very, very closely. they know the perils of the second term. they think they can avoid the worst pitfalls, first of all, they are saying there's no scandals on the horizon but believe they can avoid the worst by having a focused agenda and moving fast. >> we'll see if they can. george, thank you very much. george will have a special inauguration edition of "this week" this morni
because property tax revenues have dropped and a tax measure pick up the cost of those lost revenues was voted down. >> tickets for a san jose sharks at regular season finally go on sale in just a couple of hours from now. jackie sissel is live outside of h-p pavilion that we can finally reach brand of the shark tank. >> game tickets are going on sale today. i have video from yesterday or this sharks to add to the eyes for the first time and public. this is good news and the tickets go on sale today at 10:00 a.m.. most people will go on ticketmaster and that is the best way to do it. because of how cold it is most people most likely stay on the computer at home. you can also to aid the pavilion. they will be handing out numbered wristbands. at 830 they would be read and trying to find out will go first and then people could start buying tickets at 10:00 a.m.. you can't get up to the end tickets per game and eight games. here we are almost half way through january and there are many sharks fans in san jose and it is an exciting day. >> i bet any high tea is a good idea for the fans an
a religious organization could own. some taxed religious property. others banned given groups' practices. i'm thinking, for example, eventually various states in the southwest banning polygamy, for example. >> host: so when it came to massachusetts, talk about massachusetts or pennsylvania. of we're here in pennsylvania, as a case study of states regulating religion. >> guest: sure. pennsylvania, for example, had an active blasphemy law which we would nowty of as -- now think of of as starkly unconstitutional. and the last case, um, that was brought, the last criminal prosecution under blasphemy law was actually brought in the early 1970s kind of by accident against someone who had a sign in his window saying something like "wanted: radical carpenter speaks to crowds preaching peace." and, on, this person meant jesus, but someone walking past thought it blasphemous and complained. the american civil liberties union got involved pretty quickly, and the prosecution was dropped. more recently, the, a film company own or tried to name -- owner tried to name his company i choose hell productions
country and does washington have enough? how much more must they take from the hard-working americans, tax paying americans who are trying to put their life together every day. i and my colleagues who spoke earlier today believe that washington has enough. we don't need to give her more. mr. speaker, i yield back the balance of my time. thank you. the chair: under the speaker's announced policy of january 3, 2013, the gentleman from california, mr. garamendi, is recognized for 60 minutes as the designee of the minority leader. mr. garamendi: i thank you, mr. speaker. it's good -- it is very, very good that the new 113th congress acted today to reach out in sympathy, compassion and with real support to the people who were so severely impacted by superstorm sandy. one of our colleagues just a moment ago spoke about this nation being at a crossroads, and indeed, we crossed paths many, many times and there are many different crossroads. the people of pennsylvania, new jersey, new york, connecticut and other parts of this great nation here on the east coast, came to a crossroads. that crossroad
for tax reform by closing loopholes for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we consult the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they do not think it is fair to ask a senior to pay more for his or her health care or a scientist to shut down like that saving research so that a multi millionaire investor can take less in tax rates then a second trip -- and a secretary. they do not think it is smart to protect and as corporate loopholes and tax breaks for the wealthiest americans rather than rebuild roads and schools or help manufacturers bring jobs back to america. they want us to get our books in order in a balanced way where everyone pulls their weight, everyone does their part. that is what i want as well. that is what i have proposed. we can get it
and the issues we deal with in the coast and trying to tie that to the tax base and relate that both from a local regional perspective but also a national perspective. when you look at it, 30% of this nation's g.d.p. comes from the gulf coast. you look at the population increase we've had. since 1970, there has been 109% increase in the gulf coast region. the people are there, the vulnerabilities are there but also it is significant to what it provides to the nation. from the states perspective and also from the gulf we recognize that healthy ecosystems also can mean healthy economies. from louisiana, what we have taken -- what we believe is a very good first effort the addressing the vulnerabilities that exist in reducing that risk is with the state's matter of fact plan which is a long- term plan to reduce the economic significance and reduce the risk across the coast. we believe we can achieve protection for all coastal communities. it is that resource that is important. the states provide and the gulf provides to the nation, it if it is going to be afforded through the nation. we believe with
playing close to $300,000 in sales taxes. >>> students at university of vermont should not bring bottled water when they return to campus because the school banned its sale for environmental reasons. they are the largest public university to prohibit bottled water on campus. >>> to wall street, the dow opens at 13,507 after adding 18 yesterday. the s&p and nasdaq are both down. overseas the nikkei gained 77 points but the hang sell fell 31. nas dam and s&p slipped monday thanks to worries apple has gone sour. shares of the tech titan dipped below $500 for the first time in one year after reports the company cut orders for iphone parts due to weak demand. after the bell ben bernanke praised washington's fiscal cliff deal which he said probably would have caused a recession this year but cautioned, quote, we are not out of the woods yet. >>> a troubling new report finds more than one in four workers are dipping into retirement funds to keep up with their current bills. apparently folks in their 40s are most likely to do this. >>> some good news on the housing front. new numbers show home p
it was unheard of by many of the tech companies, the same with tax exclusion that we also did on stock compensation was that tech companies were committed on working with the city of san francisco on hiring residents from many neighborhoods that don't have access to the growing technology sector whether it is the mission, tenderloin, south of market and western addition; and happy to have cosponsors breed, cohen, avalos - to see what it is that we can do to partner with our private tech sector to ensure that we are opening up and creating a pipeline of jobs whether it is for our students born and raised in san francisco who might not get the type of education to be competitive for these jobs; whether it is adults that i found themselves unemployed in an economy not doing well but need additional training for these jobs. what is it that we can do to partner with the mayor's office in our tech companies to develop programs that would address three different population needs so they can benefit from this growing sector? we have had a remarkable growth in the technology sector. i am pr
. these three states -- new york, new jersey, and connecticut, threes three states pay almost 16% of the taxes collected in the united states of america. three states, 16% of the taxes. you ask the question, who suffered because of superstorm sandy? certainly our neighbors in new york and new jersey and connecticut suffered the most, but all americans will suffer if this economic engine is not rebuilt. the three states that pay nearly 16% of the taxes need this reconstruction, and so does the united states of america. all members, republican and democrat, should vote yes in favor of this legislation. i yield back. the speaker pro tempore: the gentleman yields back. the gentleman from oklahoma is recognized. mr. cole: i reserve the balance of my time, mr. speaker. the speaker pro tempore: the gentleman reserves. the gentlelady from new york. ms. slaughter: i'm pleased to yield a minute and a half to the gentleman from new york, mr. bishop. the speaker pro tempore: the gentleman from new york is recognized for 1 1/2 minutes. mr. bishop: i thank my friend, representative slaughter for yielding ti
to take a loan from a 401(k). >> reporter: loans that result in penalties, taxes, and lost interest. people in their 40s are most likely to borrow against their 401(k)s, but the financial pressure doesn't end there. another new study by aarp shows that the older you are, the higher your credit card debt. >> for the first time, people over age 50 are having more credit card debt, $2,000 more, than people who are younger. >> reporter: and that debt makes it more likely they'll borrow against their 401(k). it's a vicious cycle. how to avoid it? experts say you need a rainy day fund that's not your 401(k), and start saving separately for retirement in your 20s so you have at least a year's salary at 35, three years at 45, and by retirement at 67, you should have put away at least eight times your final salary. six years after tapping out their iras, they are both working, and once again saving for retirement. >> we worked very hard to get to where we are today. >> reporter: determined to enjoy their golden years after learning some hard lessons. chris jansing, nbc news, new york. >>> we
of the upcoming debt ceiling and laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand.
in manufacturing, tax reform, you know, lowering regulations, a lot of that has to do we're working with republicans and see how much the republicans are willing to sit down with the president to tackle some of the tough issues and we haven't seen much of that. >> you're right to point out there have not been recommendations from the jobs council, however we know that the jobs council mission expires at the end of the month. do you think the president should extend it and if so, what do you think of this group of business, academic and union leaders to develop for future job growth in america, to knock down that unemployment rate even more? >> kelly, i don't think that the president should extend it. >> why? >> our forefathers got it right. the recommendations, what have they done? my opponent is saying things, but still, we have 21 million people who are underemployed or unemployed. and i've talked about all of the czars and the political gestures made and our forefathers got it right and the congress is suppose today work with the administration hand in hand, we've seen a lot of p
their fair share of taxes, but he's just another elitist hypocrite when it comes to a fair share of security. protection for their kids and gun-free zones for ours. >> that's a real ad. that, my friends, is political pornography. >> that's one of the grossest things i've ever seen in my life. >> i don't know what to say. joe? >> what's wrong with these people, mika? what's wrong with these people? you have children that had no say in the decision on whether their father was going to step forward to be president of the united states, to run for president, one of the most bone-crushing sacrificing things any husband or wife can do to their family. and the second they make that decision, their children and their entire family have targets on their backs. and the nra is putting something out like -- what's wrong with these people, putting out apps that 4-year-olds can play on the anniversary of the newtown murders, and now putting out an ad talking about the president's daughters? >> they are out of step, out of the mainstream, totally out of sync with what's going on in our society. and quite f
. without unity and republicans are divided in house they stand no chance of blocking any tax increases that democrats are so intent on. jenna: we'll watch in the weeks to come, doug, thank you. >> reporter: okay. jon: new troubles for boeing's airliners. troubles grounding all the 787s in japan's after one of the jets was forced to make a emergency landing today. dan springer is in seattle with the details on what happened. none of these planes have crashed, no serious injuries but still a big problem for boeing, huh? >> reporter: that's right. for more perspective, jon, worldwide there are six 787s flying. four of them left to the u.s. or coming to the u.s.. this is not a worldwide panic. this latest incident happened in western japan during a flight on all nippon airways. a warning light came on. a the pilot smelled smoke. it caused a landing early landing but they confirmed there was no fire but a smoke coming from a lithium-ion battery that sits behind the cockpit. looks like another electrical problem for the 787 but not the same battery that caught fire after landing in boston. t
and actually to get from where we are, given the spending cuts and tax increases that we've implemented so far, to where we need to be to stabilize the debt, is not that heavy a lift if we had a functional politics that was actually paying attention to what needs to be done instead of creating these ridiculous self-inflicted skirmishes and wounds. as you have correctly pointed out, you have even got conservatives spokespeople saying, look, this isn't going to happen, you're not going to do this. we're going to have one of these last minute solutions again. if that is truly the case and if history is precedent, it will be, we really have to ask ourselves about our priorities. >> and yet, david, the problem is the fitch ratings agency has already threatened a ratings downgrade. and it even has a retort who think debt ceiling hostage taking can be a weapon against spending calling it an infective and potentially dangerous mechanism for enforcing fiscal discipline. so what is this obsession they have of falling on their sword and taking the country with them. >> there you go again, martin, stickin
to 6 inches. we'll get your local weather after this message. when you file your taxes. i read the whole 900 pages. it literally took me weeks. i will give you a tax and health care review. i know the law. i have the solution... and i can help you figure it out. we're going to see this through together. >> announcer: "today in the bay" weather is sponsored by bank of the west. >> 7:19 on wednesday morning. good morning. i'm christina loren. it's another cold start to the day. temperatures in the 20s and 30st. 28 in concord. 28 degrees in santa rosa to start. we are headed to the 60s. upper 50s bay side and at the coast today. we'll see temperatures climb as we progress through the end of the week. up to 68 degrees by the weekend. santa cruz getting warmer than that. mid 70s possible sunday. >>> and that's your latest forecast, guys. >> dylan, thank you very much. >>> crash course on what you should try to avoid touching as we enter the peak of this nasty flu season. >>> ryan seacrest up early, live in our studio. first, this is "today" on nbc. >>> coming up, one of the world's
liabilities taxes. 90% agree with him, for example, on universal background checks on the purchase of a weapon. it's very different from what happened with george bush when he won a very narrow victory in 2004, and then said he had a man date and decided he had a man date to privatize social security which was deeply unpopular. the great strength of the president here is he knows what he wants to do, he's very focused, and he has the country with him. some of this stuff is going to be tough to get through congress and you may have to fight it in the midterms and beyond, but he's going to make real progress, i think, because of what he believes and because he's got the country with him. >> well, these are kind of fundamental issues for a president, guns and keeping the government gorg and fighting for his foreign policy team. it's not like he's looked for a fight. let's face it, newtown forced everybody to deal with this. >> newtowns changed everything. >> i don't think he's looking for a fight. i think he's found one. >> i agree with you. i think since the election this has been the best perio
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